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On June 17, 2020, Travis purchased a passenger automobile at a cost of $56,000. The automobile is used 90 percent for qualified business use and
On June 17, 2020, Travis purchased a passenger automobile at a cost of $56,000. The automobile is used 90 percent for qualified business use and 10 percent for personal purposes.
Self-Study Problem 8.5 On June 17, 2020, Travis purchased a passenger automobile at a cost of $56,000. The automobile is used 90 percent for qualified business use and 10 percent for personal purposes. Click here to access the depreciation table and click here to access the annual automobile depreciation limitations. Calculate the depreciation expense (without bonus depreciation) for the automobile for 2020, 2021, and 2022 assuming half-year convention and no Section 179 immediate expensing. 2020: $ 2021: $ 2022: $Step by Step Solution
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